*UNION BUDGET* (2019)

ØThe
Government Has Announced New Measures To Benefit Salaried Class, Farmers And
Workers Among Others In The Budget. The New Measures In The Budget 2019 That
Are Likely To Act As 'Boosters' For The Government Before The Lok Sabha Polls
Are As Follows:

ØAssured
Income To Farmers

ØUnder
Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 Per Year For Each Farmer, In Three
Installments, To Be Transferred Directly To Farmers' Bank Accounts, For Farmers
With Less Than 2 Hectares Landholding. This Initiative Is Likely To Benefit 12
Crore Small And Marginal Farmers, At An Estimated Cost Of Rs 75,000 Crore.

ØPension
For 10 Crore Workers

ØMega
Pension Yojana, Namely Pradhan Mantri Shram Yogi Mandhan, To Provide Assured
Monthly Pension Of Rs 3,000 Per Month To Workers In The Unorganised Sector
After 60 Years Of Age. Pensioners Will Have To Contribte Rs 100 Per Month.

ØMiddle
Class Gets Huge Tax Rebates

ØIndividual
Taxpayers Having Annual Income Up To Rs 5 Lakh Will Get A Full Tax Rebate. Individuals
With Gross Income Up To 6.5 Lakh Rupees Will Not Need To Pay Any Tax If They
Make Investments In Provident Funds And Prescribed Equities. The Standard
Deduction For Salaried Persons Raised From Rs 40,000 Rupees To Rs 50,000. TDS Threshold
On Rental Income Raised From Rs 1.8 Lakh To 2.4 Lakh. No Tax On Notional Rent
On Second House.

ØGratuity
Limit Increased

ØGratuity
Limit Hiked From Rs 10 Lakh To 30 Lakh For Employees With Service Of At Least
Five Years From The Next Fiscal.

ØIncome
Tax Refunds Within 24 Hoursincome Tax Refunds Will Be Processed Within 24 Hours
And Released Immediately. The Finance Minister Announced That Within The Next
Two Years, The Assessment Of All Tax Returns Will Be Done Electronically
Without Any Personal Interface.